Invesco Ltd. Has $188.46 Million Position in Advanced Drainage Systems, Inc. (NYSE:WMS)

Key Points

• Invesco Ltd. increased its stake in Advanced Drainage Systems by 2.7%, owning 1,734,537 shares valued at approximately $188.46 million as of the latest SEC filing.
• Analysts are bullish on Advanced Drainage Systems, with multiple firms including UBS Group raising their price targets, leading to a consensus rating of "Moderate Buy" and a target price of $152.56.
• Advanced Drainage Systems recently declared a quarterly dividend of $0.18 per share, representing a 0.5% yield with a low payout ratio of 13.00%.

Invesco Ltd. raised its holdings in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 2.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,734,537 shares of the construction company's stock after acquiring an additional 45,993 shares during the period. Invesco Ltd. owned about 2.24% of Advanced Drainage Systems worth $188,457,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its holdings in shares of Advanced Drainage Systems by 0.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 63,540 shares of the construction company's stock valued at $7,345,000 after purchasing an additional 308 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of Advanced Drainage Systems in the fourth quarter valued at about $353,000. Raymond James Financial Inc. bought a new stake in shares of Advanced Drainage Systems in the fourth quarter valued at about $2,025,000. Treasurer of the State of North Carolina lifted its holdings in shares of Advanced Drainage Systems by 3.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 33,303 shares of the construction company's stock valued at $3,850,000 after purchasing an additional 1,152 shares in the last quarter. Finally, Sterling Capital Management LLC lifted its holdings in shares of Advanced Drainage Systems by 42.8% in the fourth quarter. Sterling Capital Management LLC now owns 3,030 shares of the construction company's stock valued at $350,000 after purchasing an additional 908 shares in the last quarter. 89.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

WMS has been the topic of several analyst reports. Oppenheimer reiterated an "outperform" rating on shares of Advanced Drainage Systems in a report on Friday, August 8th. Wall Street Zen upgraded Advanced Drainage Systems from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. KeyCorp upped their target price on Advanced Drainage Systems from $140.00 to $159.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Robert W. Baird set a $166.00 target price on Advanced Drainage Systems in a report on Friday, August 8th. Finally, Loop Capital dropped their target price on Advanced Drainage Systems from $143.00 to $133.00 and set a "buy" rating on the stock in a report on Friday, May 16th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $152.56.

Advanced Drainage Systems Stock Performance

NYSE WMS traded down $0.31 during trading on Friday, reaching $138.98. 645,898 shares of the company's stock were exchanged, compared to its average volume of 819,976. The business has a 50 day moving average price of $118.96 and a 200-day moving average price of $114.82. The stock has a market capitalization of $10.81 billion, a P/E ratio of 25.09, a PEG ratio of 1.85 and a beta of 1.27. The company has a debt-to-equity ratio of 0.82, a current ratio of 3.22 and a quick ratio of 2.25. Advanced Drainage Systems, Inc. has a fifty-two week low of $93.92 and a fifty-two week high of $166.03.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The construction company reported $1.95 earnings per share for the quarter, topping analysts' consensus estimates of $1.78 by $0.17. The firm had revenue of $829.88 million for the quarter, compared to the consensus estimate of $800.54 million. Advanced Drainage Systems had a return on equity of 29.57% and a net margin of 14.82%. The business's revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.06 earnings per share. Sell-side analysts forecast that Advanced Drainage Systems, Inc. will post 6.1 earnings per share for the current fiscal year.

Advanced Drainage Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Friday, August 29th. Advanced Drainage Systems's dividend payout ratio (DPR) is presently 13.00%.

About Advanced Drainage Systems

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products in North America and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments. It offers single, double, and triple wall corrugated polypropylene and polyethylene pipes; plastic leachfield chambers and systems; EZflow synthetic aggregate bundles; wastewater purification through mechanical aeration wastewater for residential and commercial systems; septic tanks and accessories; combined treatment and dispersal systems, including advanced enviro-septic and advanced treatment leachfield systems; and allied products, including storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.